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All Forum Posts by: Roy H.

Roy H. has started 5 posts and replied 15 times.

Nathan Emmert

Interesting.. everything that I've read said it's 2 years with the extenuating circumstances for 90% LTV otherwise it was 4 years. I'll keep digging around.

Do you mind if I ask which lender you used?

Thanks... I'd prefer to not act the Bank, personally. How would I go about possibly finding a private investor for something like this in Ohio?

I recently rehabbed a property that is on the market. I've been having issues getting qualified buyers.. have had 3 full price offers, but they couldn't secure financing.

I had a woman that walked through the home on Sunday, and again last night. She hadn't been pre-approved yet, etc. but didn't foresee any problems.

She's talked to Wells Fargo.. credit score is in the upper 600's, excellent debt to income rations.. but apparently she did a short sale a year ago as she had to re-locate, etc. Wells Fargo isn't able to do anything. I have a feeling FHA is out of the question due to the short sale.

I don't have any desire to do a lease option. But I wasn't sure if there were any other mortgage options out there that she may qualify for? Are there credit unions or other banks out there that are willing to provide any financing for a situation like this?

Thanks in advance!

Post: Feeling the pain of my first purchase

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

Assessed value for that home is $21,300

It is a relatively rough neighborhood... the high school isn't the best.

Most of the recent activity in the area appear to be via sheriff sale.

Looks like there are 2 active listings on Norwood right now..

http://www.wellesbowen.com/search/property/1428/NORWOOD%20AVE/Toledo/Oh/43607/4665245

http://www.wellesbowen.com/search/property/1639/NORWOOD/Toledo/Oh/43607/5019517

Post: What paint colors are you using in rehabs?

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

Do you guys use kitchen and bath paint in their respective rooms as well?

Post: Whats the best websites to sell houses fast?

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

So in your instance Ryan.. if you generate the lead from your website, are you still paying your agrent commission? Or do you only pay him if he brings the buyer to you?

Post: Public utility lean?

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

Everything is all set. Payment was sent last week, water company received.

Now I just need to sell the darn house!

Also.. I have no idea why/how I misspelled "lien" in the subject line.

Post: Public utility lean?

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

Thanks again to all that have responded.

The title company was very apologetic. They asked me to scan and email a copy of the bill. 30 minutes later I received an email indicating that they've been in touch with the Dept. of Public Utilities and that the title company is awaiting an OK from HUD to pay the bill.

I'll keep my fingers crossed this is a quick and painless process from here on out... I'll keep you posted!

Thanks again.

Post: Public utility lean?

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

Thanks for the help so far!

I'm looking at my purchase agreement now and all the addendums I had to sign. I have a form from the National Home Management Solutions.

Towards the end of the document, it states "The Broker is responsible for getting final water and sewer readings and bringing evidence of any unpaid water and sewer balances to settlement."

So based on that, those should have been taken care of by HUD prior to closing, right?

The entire bill is lienable here in Toledo.

Post: Public utility lean?

Roy H.Posted
  • Real Estate Investor
  • Monclova, OH
  • Posts 16
  • Votes 0

Hey everyone... I'm a long-time registered user, but not too active in regards to posting.

I have no idea which forum this topic should be started in... so I apologize if this should be in another forum.

I purchased a HUD home early in 2009 to rehab and flip. I got all the utilities switched over in to my name and turned on. The rehab went well and the home is currently listed for sale.

I just received a letter from the City of Toledo's Dept. of Public Utilities indicating that I owe $1,200 for unpaid sewer, water, and garbage.

The letter indicates that they will certify the unpaid amounts to the County Auditor and it will be added to the property taxes.

Number 1.) I have records documenting all of my payments
Number 2.) I've owned the property for 9 months, there's no way I could have accumulated $1,200 in bills even if I wasn't paying.

Obviously, these fees are from either the owner (prior to HUD) or HUD.

I can't be held responsible for this bill, right?

The water company never indicated that there was any outstanding balance on the account when I had the utilities switched in to my name.

I'm going to call the dept. of public utilities today, but does anyone have any additional advice?

Thanks in advance! :D